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6. Plotting the supply of labor In Providence, 120 people are willing to spend an hour working as pizza makers for an hourly wage of $20. For each additional $5 that the wage increases above $20, an additional 30 people are willing to spend an hour working. For hourly wages of $20, $25, $30, $35, and $40, plot the daily labor supply curve for pizza makers on the following graph. ? WAGE (Dollars per hour) 50 45 40 35 30 25 20 15 10 5 0 + 0 30 60 90 120 150 180 210 LABOR (Number of workers) 240 270 300 Supply What is one explanation for why this labor supply curve is upward sloping? The opportunity cost of leisure increases as wages increase. Unemployment benefits are steadily declining. Wages have to increase to accommodate union pressure. O Firms are willing to hire fewer pizza makers at a higher wage.

6. Plotting the supply of labor In Providence, 120 people are willing to spend an hour working as pizza makers for an hourly wage of $20. For each additional $5 that the wage increases above $20, an additional 30 people are willing to spend an hour working. For hourly wages of $20, $25, $30, $35, and $40, plot the daily labor supply curve for pizza makers on the following graph. ? WAGE (Dollars per hour) 50 45 40 35 30 25 20 15 10 5 0 + 0 30 60 90 120 150 180 210 LABOR (Number of workers) 240 270 300 Supply What is one explanation for why this labor supply curve is upward sloping? The opportunity cost of leisure increases as wages increase. Unemployment benefits are steadily declining. Wages have to increase to accommodate union pressure. O Firms are willing to hire fewer pizza makers at a higher wage.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter14: Labor Markets And Income
Section: Chapter Questions
Problem 1SCQ: Table 14.10 shows levels of employment (Labor), the marginal product at each of those levels, and...
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6. Plotting the supply of labor In Providence, 120 people are willing to spend an hour working as pizza makers for an hourly wage of $20. For each additional $5 that the wage increases above $20, an additional 30 people are willing to spend an hour working. For hourly wages of $20, $25, $30, $35, and $40, plot the daily labor supply curve for pizza makers on the following graph. WAGE (Dollars per hour) 50 45 40 35 30 25 20 15 10 5 0 0 + 30 60 90 120 150 180 210 LABOR (Number of workers) 240 270 300 Supply What is one explanation for why this labor supply curve is upward sloping? The opportunity cost of leisure increases as wages increase. O Unemployment benefits are steadily declining. Wages have to increase to accommodate union pressure. O Firms are willing to hire fewer pizza makers at a higher wage.
Transcribed Image Text:6. Plotting the supply of labor In Providence, 120 people are willing to spend an hour working as pizza makers for an hourly wage of $20. For each additional $5 that the wage increases above $20, an additional 30 people are willing to spend an hour working. For hourly wages of $20, $25, $30, $35, and $40, plot the daily labor supply curve for pizza makers on the following graph. WAGE (Dollars per hour) 50 45 40 35 30 25 20 15 10 5 0 0 + 30 60 90 120 150 180 210 LABOR (Number of workers) 240 270 300 Supply What is one explanation for why this labor supply curve is upward sloping? The opportunity cost of leisure increases as wages increase. O Unemployment benefits are steadily declining. Wages have to increase to accommodate union pressure. O Firms are willing to hire fewer pizza makers at a higher wage.
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